Simulation - The Pelach compound on the outskirts of Jaffa (Photo: Yaski Architects)
900 new apartments: The Local Planning and Building Committee Tel Aviv-Yafo approved the huge plan of the Reality Fund and Kardan Real Estate in the Pardes Snir complex on the outskirts of Jaffa, near Bloomfield Stadium.
Until now, the complex was a barrier to significant development of the area, and is now expected to become a significant anchor in the development of the outskirts of Jaffa, which will affect the entire region.
The approval of the plan was done in record time for a significant plan of this magnitude. The land covers an area of 55 dunams between Resurrection, Yesod, HaStream and 3246 streets, and the existing use of the site includes mainly industry, crafts and parking lots.
Simulation - The Pelach compound on the outskirts of Jaffa (Photo: Yaski Architects)
The approved plan improves the complex and turns it into a central anchor for the development of the area through mixed uses, including the construction of a residential neighborhood in which about 890 housing units will be built, with 15% of the residential area allocated for affordable housing. The plan also incorporates 5,000 square meters of commercial space and 20,8 square meters of employment in buildings between 19 and 12 stories high.
The plan also includes a 300-dunam public area that will include a spacious open area and a new school. The developers began promoting a design plan in order to accelerate the receipt of a building permit in the complex.
The area on the outskirts of Jaffa is undergoing a development momentum, including the renewed Bloomfield Stadium, the Tel Aviv Academic College, a nature school and the Botanical Garden, as well as a major public transportation route around which metro stations will be built, and the light rail's red line (which runs through Jerusalem Boulevard) will open soon and in close proximity.
The existing complex currently includes a building that serves as shared work spaces on HaStream Street, which is expected to continue its activity there, a parking lot with about <> parking spaces, and additional buildings, which are expected to be demolished in accordance with the new plan.
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"This is a project that will change the face of the entire region."
According to Avishai Kimmeldorf, partner at Reality Fund: "As part of the work methodology developed by the Reality Group, during the improvement period, businesses continue to operate in the vicinity of the property in cooperation with the local authority until the demolition stage. The Group's ability to resolve the complexities of the property and promote a plan in which an improvement plan enabled its rapid approval.
"This is a continuation of the strategy led by the Fund for the Development of the Outskirts of Jaffa. This is the last significant land reserve left in the area, and by promoting a rezoning to a modern mix of uses, we will succeed in bringing about a real transformation that will create a new urban continuum in the area. The full cooperation with the Tel Aviv municipality, planning authorities and professionals made it possible to promote the complex in record time and develop a new and attractive quarter, which will bring about a change in the face of the area beyond recognition in the coming decade."
According to Amos Dabush, CEO of Kardan Real Estate: "This is a project that will change the face of the entire area and will include a mix of uses for the benefit of local residents. The promotion of the program was done in record time as a result of the fruitful cooperation of all the parties involved in promoting the plan, and we welcome it."
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